179 Stranmillis Avenue

Property Overview: 179 Stranmillis Avenue, Glenwood, Winnipeg

Section 1: Key Characteristics & Appeal

This property presents a distinct value proposition centered on its exceptionally low municipal assessed value, which is among the lowest in Winnipeg. The appeal lies primarily in its potential as an entry point into the market or as a strategic investment opportunity. The lot, while below the neighbourhood average in size, is still a standard city parcel. The home itself is notably modest in scale compared to area and city averages.

It would best suit a specific type of buyer: a hands-on investor or a very budget-conscious first-time buyer willing to undertake renovations. Given the significant gap between its historical sold price and current city-wide assessed averages, this property could be seen as a foundation asset—a chance to secure land and a structure at a base cost, with future value to be created through improvement. It’s less suited for those seeking a move-in ready home or prioritizing immediate square footage.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's current state, size, and market factors as determined by the municipal authority. Its ranking indicates it is among the most modestly assessed properties in Winnipeg, often reflecting a smaller living area, older components, or a need for updating.

2. What does the "below average" ranking for Land Area mean practically?
While the lot is smaller than many in Glenwood and Winnipeg, at approximately 2,550 sqft, it is still a functional urban lot. It may offer less backyard space than some neighbours but requires less maintenance.

3. Who would benefit from requesting the exact sold price history?
Knowing the precise past sale figures is most useful for serious buyers or investors to accurately model the property's price trajectory and calculate potential renovation budgets against its acquisition cost.

4. Is this a good choice for a first-time home buyer?
It could be, but with important caveats. It offers an affordable entry price but likely requires a willingness to live in a modest space and potentially invest in repairs or updates over time. A thorough inspection is essential.

5. How should I interpret the comparison to homes with similar assessed values?
The listed comparable properties share a similar municipal valuation, but they may be in different neighbourhoods or be different property types (e.g., condos). This highlights that at this assessed value point, you are looking at the most economical segment of the market, where the value is in the potential rather than in present-day finishes or size.